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Sunday, December 4, 2022

forecast a record increase for December of around 80%

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The rental update rate for the contracts that were signed in December 2021 and December 2020, it indicates that the increase will be 77.58%. In this way, a rental that now has a value of 30,000 pesos will have a value close to 53,000 pesos.

The data, published by the Real Estate Professional Forum, means a new jump in the cost of living. For tenants it is an increasingly difficult rise to face and for owners it is a percentage that is 11 points below year-on-year inflation, which INDEC indicated on Tuesday reached 88%.

How the increases were given in the year

  • January: 52.21%
  • February: 51.28%
  • March: 51.67%
  • April: 53.66%
  • May: 53.91%
  • June: 55.97%
  • July: 58.16%
  • August: 60.96%
  • September: 64.67%
  • October: 67.31%
  • November: 73.12%
  • December: 77.58%.

How to calculate the update

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The increases established by the Rental Law are based on salary increases (RIPTE) and inflation, through the CPI Consumer Price Index.

Those who want to calculate the year-over-year increase for October will need to use specific rent data. Tenants must access the official website of the Central Bank (BCRA) and enter the Index for Rental Contracts (ICL)an indicator created with the aim of establishing parameters when entering into rental contracts.

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As a second step the person must calculate the existing variation, that is, you will have to divide the current ICL with the same date last year. Finally, the result of the division must be multiplied with the value of the original rental price.

Source: Ambito

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